Building’s on fire. Fire department has been called. All safe? No…not if….. the exits have been sealed and you’re still inside.
And in a sense, that’s where millions of Americans are finding themselves. And strangely, they can give thanks:
Their jobs have disappeared. Thanks Virus.
They’re not as confident in their money holding value: Thanks Fed.
Their mail-in ballots are in question: Thanks Post Master.
Their tax rates will be skyrocketing. Thanks again, virus.
No more going the movies, a dinner out, and some of those “personal services” that used to power a vibrant “services sector.” Once upon a time, we all had servants – at least now and then. Ah, yesterday. Thanks – circumstances.
We look today at tomorrow and try to get a sense of how it will all work out when economic reality hits- with the exits sealed and passports useless. We’re not looking at the short-term bubble crap – but when the real stuff hits the fan on the years-long timescale when the votes aren’t certain, and the tax man commeth for that “advance refund” refund.
But first, a few headlines and charts – because this is not – as some are errantly framing these times as the “Roaring Twenties, again.” No way in hell. Data set remediation, here we come.
And in this mid-summer writing frenzy, an in-depth look at what’s ahead for Oil, from the front lines with Oilman2, as well.